ARGUMENT has completed the first stage of the valuation of SE NNEGC Energoatom in order to determine the amount of the authorised capital in the process of transformation and received a positive review from the State Property Fund of Ukraine.
The State Enterprise National Atomic Energy Generating Company Energoatom was established in 1996 in accordance with the Resolution of the Cabinet of Ministers of Ukraine “On Establishment of the National Atomic Energy Generating Company Energoatom” No. 1268 dated 17.10.1996 on the basis of the property of nuclear power plants and their infrastructures – Zaporizhzhya NPP, Rivne NPP, South Ukrainian NPP, Khmelnytsky NPP and Chernobyl NPP and is the largest electricity producer in Ukraine.
The company is the operator of four nuclear power plants – Zaporizhzhya, Rivne, South Ukraine and Khmelnytsky – which operate 15 nuclear power units (13 VVER-1000 and two VVER-440) with a total installed capacity of 13,835 MW). The company also includes Tashlyk PSP (453 MW), Oleksandrivska HPP (25 MW) and the Centralised Spent Fuel Storage Facility in the Chornobyl zone.
Energoatom has 12 separate divisions that provide its own scientific, engineering, technological and production base, improve the quality and efficiency of meeting the needs of operation and maintenance, significantly reduce dependence on contractors and largely solve the problem of import substitution.
In accordance with the requirements of the Law of Ukraine “On the Joint Stock Company “National Nuclear Energy Generating Company “Energoatom”, all property accounted for on the balance sheet of SE NNEGC “Energoatom” as of the valuation date, including social infrastructure facilities, is transferred to the charter capital of the joint stock company on the right of ownership.
The second stage of the valuation is the valuation of property for accounting and financial reporting in accordance with the requirements of International Financial Reporting Standards (IFRS).
